TIAA CREF Investment Management LLC Sells 19,424 Shares of Bottomline Technologies, Inc. (NASDAQ:EPAY)

TIAA CREF Investment Management LLC decreased its stake in Bottomline Technologies, Inc. (NASDAQ:EPAY) by 14.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,714 shares of the technology company’s stock after selling 19,424 shares during the period. TIAA CREF Investment Management LLC owned about 0.31% of Bottomline Technologies worth $2,784,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EPAY. Thrivent Financial for Lutherans increased its position in Bottomline Technologies by 3.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 19,710 shares of the technology company’s stock valued at $493,000 after buying an additional 620 shares during the period. Louisiana State Employees Retirement System increased its position in Bottomline Technologies by 4.8% in the first quarter. Louisiana State Employees Retirement System now owns 15,400 shares of the technology company’s stock valued at $364,000 after buying an additional 700 shares during the period. Texas Permanent School Fund increased its position in Bottomline Technologies by 2.7% in the first quarter. Texas Permanent School Fund now owns 27,380 shares of the technology company’s stock valued at $648,000 after buying an additional 722 shares during the period. Mason Street Advisors LLC increased its position in Bottomline Technologies by 10.7% in the first quarter. Mason Street Advisors LLC now owns 8,843 shares of the technology company’s stock valued at $209,000 after buying an additional 856 shares during the period. Finally, Jupiter Asset Management Ltd. increased its position in Bottomline Technologies by 0.5% in the first quarter. Jupiter Asset Management Ltd. now owns 190,676 shares of the technology company’s stock valued at $4,509,000 after buying an additional 866 shares during the period. 92.46% of the stock is owned by institutional investors and hedge funds.

Shares of Bottomline Technologies, Inc. (NASDAQ:EPAY) traded up 0.17% on Friday, reaching $28.96. 210,609 shares of the company traded hands. The firm has a 50-day moving average of $27.84 and a 200-day moving average of $25.51. Bottomline Technologies, Inc. has a 52-week low of $18.95 and a 52-week high of $31.10. The company’s market capitalization is $1.09 billion.

Bottomline Technologies (NASDAQ:EPAY) last announced its quarterly earnings data on Thursday, August 10th. The technology company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by $0.12. The business had revenue of $93.50 million during the quarter, compared to analysts’ expectations of $90.95 million. Bottomline Technologies had a positive return on equity of 4.35% and a negative net margin of 9.48%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 earnings per share. On average, equities research analysts forecast that Bottomline Technologies, Inc. will post $1.06 earnings per share for the current fiscal year.

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Several research firms have recently issued reports on EPAY. Zacks Investment Research downgraded Bottomline Technologies from a “hold” rating to a “strong sell” rating in a research note on Wednesday. BidaskClub downgraded shares of Bottomline Technologies from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. FIX raised shares of Bottomline Technologies from a “market perform” rating to an “outperform” rating and set a $33.00 target price for the company in a research note on Monday, July 17th. Raymond James Financial, Inc. raised shares of Bottomline Technologies from a “market perform” rating to an “outperform” rating and set a $33.00 target price for the company in a research note on Monday, July 17th. Finally, UBS AG raised shares of Bottomline Technologies from a “market perform” rating to an “outperform” rating in a research note on Monday, July 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $30.50.

In other news, insider Norman J. Deluca sold 2,750 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $25.33, for a total transaction of $69,657.50. Following the completion of the sale, the insider now directly owns 83,554 shares of the company’s stock, valued at approximately $2,116,422.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Norman J. Deluca sold 1,898 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $28.99, for a total value of $55,023.02. Following the sale, the insider now directly owns 77,192 shares of the company’s stock, valued at $2,237,796.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,625 shares of company stock valued at $242,161. Company insiders own 3.20% of the company’s stock.

Bottomline Technologies Company Profile

Bottomline Technologies (de), Inc is engaged in providing a set of cloud-based business payment, digital banking, fraud prevention, payment and financial document solutions. The Company helps businesses pay and get paid. It offers hosted or Software as a Service (SaaS) solutions, as well as software designed to run on-site at the customer’s location.

Institutional Ownership by Quarter for Bottomline Technologies (NASDAQ:EPAY)

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